Powers of the Corporation

(1) Notwithstanding anything contained in this Act, the Corporation shall have power, (a) to make grants or loans to persons upon such security as it thinks fit for housing, business or agricultural purposes whether for rehabilitation or otherwise, including the purchase of land for such purposes; and 11 (b) to prepare schemes in accordance with any Order made under section 13 of this Act and to lay out and develop any new town in accordance with such scheme and for such purpose, (i) to acquire, hold, manage and dispose of land and other property; (ii) to carry out building and other operations; (iii) subject to the provisions of any law or agreement to the contrary, to provide water, electricity, gas, sewerage and other services; (iv) to carry on any business or undertaking in or for the purposes of the new town; and (v) generally to do anything necessary or expedient for the purposes of the new town or incidental thereto. (2) Without prejudice to any of the provisions of this Act requiring the consent of the Minister to be obtained for anything to be done by the Corporation, the Minister may give directions to the Corporation for restricting the exercise by it of any of its powers under this Act, or for requiring the Corporation to exercise those powers in any manner specified in the directions, Provided that, (a) before giving any such directions the Minister shall consult with the Chairperson of the 12 Board of the Corporation, or, if the Chairperson is not available, with the deputy Chairperson, unless he is satisfied that, on account of urgency, such consultation is impracticable; and (b) any transaction between any person and the Corporation acting in purported exercise of their powers under this Act shall not be void by reason only that it was carried out in contravention of any such directions, unless that person had actual notice of the directions. (3) For the avoidance of doubt, it is declared that the provisions of subsection (1) of this section with respect to the powers of the Corporation relate only to their capacity as a statutory corporation, and nothing in this section shall be construed as authorising the disregard by the Corporation of any enactment or rule of law. towns.